Hive Technologies, a Los Angeles CA-based company expanding affordable access to EVs and renewable energy-based charging infrastructure, raised $30M in funding.
Backers included iSun, Inc. (NASDAQ: ISUN), Galway Sustainable Capital, and Los Angeles Cleantech Incubator’s Impact Fund, LACI as well as strategic individuals from the renewables and real estate sectors, aligned to Hive’s Environmental, Social, and Governance (ESG) objectives.
Led by Boyd Bishop and Mathias Thomsen, Hive Technologies Founded in 2020 and formerly known as Gemini by Boyd Bishop and Mathias Thomsen, Hive leverages proven technologies such as high range EVs, IOT, modular solar charging, and energy storage to create innovative fintech solutions to enable people to own EVs in a way shorter than traditional car leases and loans. The company also plans to offer renewable energy services to consumers with more moderate mileage, tapping into the increasing renewable energy oversupply.
Hive intends to use the funds to develop its fintech solution, put an initial 1,000 high mileage EV users on a path to EV ownership, and deploy 50 solar-powered, direct current fast charger (DCFC)-enabled Hive mobility hubs eliminating 12,000 tonnes of C02 and saving 1.2 million gallons of fuel every year.